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Intel’s headcount reductions top 2,600 in third quarter |
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Oct 18, 2006 at 01:15 PM |
Intel Corporation provided updated headcount reduction figures for the third quarter, during a conference call with financial analysts. The headcount declined over 2,600 during the quarter, confirming Intel's plan to have reduced headcount to about 95,000 by the end of 2006.
"We expect restructuring charges of approximately $125 million," commented Andy Bryant, Intel Corp, CFO. "We are on track with the previously announced plan to reduce headcount to approximately 95,000 by year end, including the effect of the planned sale of the communications and applications processor business. This would bring headcount down 5% from the end of 2005, with continuing reductions through 2007."
By the mid-2007, Intel expects to have reduced headcount by a further 3,000, reaching approximately 92,000 employees in that timeframe. However, Intel expects to continue headcount reductions through 2007, though no guidance was given to the expected figure.
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